The Rupee logged its sharpest fall since late-July on Tuesday, pressured by a third straight day ?of rising oil prices that pushed Brent to near $100 a barrel ?as the ongoing Iran war deepened worries over sustained energy supply disruptions. Singed by ?the pressure, the rupee declined to 94.8175 per dollar by ?the end of the session, down 0.35% from its previous close. Traders said ?the dollar sales from state-run banks, most likely on behalf of the Reserve ?Bank of India, cushioned the currency's fall but did not appear intended to anchor it to a specific level. Persistent central bank interventions had helped drive the rupee higher to ?a more than two-month peak last week. However, that rally has run ?into resistance on account of a renewed rise in oil prices and still-elevated hedging demand ?from ?local importers. Other emerging market currencies came under pressure on Tuesday as well, with both the Thai baht and South African Rand slipping about 0.4%. The pound dipped against the dollar on Tuesday, as investors waited to hear from several Bank of England policymakers, including Governor Andrew Bailey, for insights on inflation ?and monetary policy outlook. The British currency traded at $1.3529, down 0.12% against the dollar ?on the day. Sterling ?was little changed at 85.83 pence per euro but slumped further ?against the ?Japanese yen , falling 0.2% to a near seven-month low of 208.46 yen as the Japanese currency climbed on expectations of a hawkish Bank of Japan outcome next week. The Canadian dollar strengthened to nearly a three-week high against its U.S. counterpart on Tuesday as investors ?focused on higher oil prices rather than an escalating trade ?war between the U.S. and Canada. The loonie was trading 0.2% higher at 1.3790 per U.S. dollar, or 72.52 U.S. cents, after touching its strongest intraday ?level since August 21 at 1.3760.......
The US dollar weakened sharply against other major currencies after data showed that the US economy suffered a record contraction in Apr-Jun, while jobless claims rose in the week ended Saturday also rose.The US unit also extended its decline globally on Thursday after Trump raised the possibility of delaying presidential election in the US, scheduled for November.European Stocks ended lower on Thursday due to mounting concern over sluggish economic recovery and a possible second wave of the COVID-19 pandemic.Germany reported its worst decline in GDP since 1970, with the Eurozone’s largest economy shrinking 10.1% quarter-on-quarter in Apr-Jun.Corporate earnings were high on investors' agenda on Thursday.In the US, Most share indices ended lower on Wednesday following bleak economic data.Lack of progress in talks between Congressional Democrats, Republicans and the White House on a new coronavirus aid package also weighed on sentiment.Gold futures settled lower on Thursday after nine consecutive days of gains, with the bullion retreating from a record rally as traders booked some profit.......